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Why Property Management needs electronic signatures

20th June 2019 - Tom McFadyen

Technology is all about making processes easier to boost efficiency and save time. As property law becomes more binding, technology can be a useful tool to help property management companies stay compliant by making legal processes more efficient, and by providing a way of following the status of urgent documents.

Technology is now taking over almost every sector, and whilst property has traditionally been resistant to change, technology is slowly being adopted more and more by property professionals.

Electronic Signatures in Property

There are many electronic signature platforms that are integrated with cloud-based property management software platforms to provide a comprehensive service for property managers. Much like property software itself has done when it comes to simplifying the property management process, making the change to electronic signatures supports the solutions provided by Proptech, saving you time and money.

You are much more likely to speed up the tenancy onboarding process if signing documents is made easier. For instance, many companies require tenants to travel to their offices to sign key documents.

Using an eSignature platform drastically improves document turnaround time, meaning less time is spent on chasing up tenants for crucial documents, and you avoid any dangers of things getting lost or misplaced. Using eSignatures contracts can be signed digitally and also stored online.

Electronic Signatures for Guarantors

Electronic signatures are also useful when there are guarantors involved in a tenancy. It can be difficult for guarantors to find the time during work hours to visit the office to sign necessary documents. It also assumes that the guarantor is located near to the tenant, which is not always the case. Electronic signatures make it possible for guarantors to sign guarantor forms wherever they are – so long as they have a Wi-Fi connection.

Electronic Signatures Legality

If you are worried about the legalities of electronic signatures, you shouldn’t be. Electronic signatures are safe and secure for property management. Signable adheres to electronic signature laws in the UK and the EU, meaning all signatures completed are as legally binding as paper signatures.

Stored in the cloud, documents and signatures cannot be lost and can be accessed on any device at any time and anywhere. Signed documents are securely stored so that only you and the people you’ve authorized can access them, there is much less chance of losing confidential information when it is stored digitally.

Benefit the Environment

Many companies are also trying to do their bit to help the environment and moving over to paperless solutions is a great way to do this. A greener office will also save your business a lot of money, be it the paper to print on, the printer, the ink, delivery costs – it all adds up.

While a subscription for eSignature software does involve some outgoing, the price dwarfs in comparison to the costs of traditional paper, and all the printing that involves, as well as having to stock up on toner and paper. The electronic signature will pay for itself in the long term.

Why not try eSignatures for yourself?

Technology has brought us to a stage where so many processes can be done digitally rather than the old manual way. The convenience is unrivalled, and for letting agents and property managers with large client bases, the days of keeping large archives of signed contracts that gather dust can be a thing of the past thanks to electronic signatures.